Many people assumed the initial launch of Bitcoin was a mere joke or a fluke. Even years later, the world’s leading cryptocurrency is still going stronger than ever before. The correlation between Satoshi Nakamoto’s venture and Halloween is also a lot more apparent than most people think. In fact, it is safe to say that Bitcoin is the Halloween treat that keeps on giving, in many different ways.
The “Spooky” Whitepaper
Considering how Bitcoin has officially introduced to the world eleven years ago, it is crucial to go back to how it all started. An anonymous developer using the Satoshi Nakamoto pseudonym introduced the Bitcoin whitepaper to the world. While it was originally scrutinized as something that simply could never work out, the world’s leading cryptocurrency has proven to be very resilient in its own regard.
Given how Satoshi timed the whitepaper launch to nearly coincide with Halloween, there has always been some speculation as to whether a “Halloween Effect” can come into play. For most of Bitcoin’s lifespan, this event had not existed in any shape or form, thus it is evident that this is merely wordplay first and foremost. However, it is crucial to remember where this industry came from so many years ago, and how things have evolved ever since. There is still a very long way to go before Bitcoin becomes a mainstream Halloween treat.
Historical Bitcoin Prices on Halloween
When looking back over the past eleven years, it is safe to say the Halloween period has had little or no effect on the BTC value, except for a few isolated events. Back in 2013, the BTC value had already spiked well ahead of the whitepaper’s anniversary and quickly tapered off afterward. Not much happened until 2016, a period during which the Bitcoin value first approached the $800 mark for several days in a row. Things finally started heating up a bit near Halloween of 2017, when all cryptocurrency markets when through an unexpected “crazy” period.
On October 25, 2017, the price of one BTC sat at a whopping $5,544. Many people expected this rise to continue as Halloween 2017 approached, and the price chart showed plenty of treats for holders and speculators alike. By November 2nd, the price has risen to over $7,150, further confirming it was a pretty big year for cryptocurrency in general. There was a lot less excitement in 2018, however, when the world’s leading cryptocurrency continued its downtrend. On Halloween 2018, one BTC hit a value of just over $6,200, before dropping to $3,990 in the following weeks. So far, the year 2019 shows some signs of promise, because the price seems to hold its own near the $9,250 mark.
Trick or Treating With Bitcoin
Regardless of the price action, there are plenty of enthusiasts who like to celebrate Halloween with a Bitcoin theme. Whether it is by carving a Bitcoin logo in pumpkins or simply by creating some cool images on the internet, there are many ways to go about this yearly event. Celebrating Halloween while dressed like a Bitcoin is also something Americans tend to enjoy, thus make sure to keep an eye out for one of those costumes near you.
Image(s): Shutterstock.com
The post Bitcoin and Halloween are More Closely Entwined Than you Might Think appeared first on The Merkle Hash.
by JP Buntinx via The Merkle Hash
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